Closing the discover-to-buy pathway is the holy grail for marketers, but smart brands are now working with ShareIQ to use our earned media optimization platform to turn social media “likes” into revenue.
While in general, digital media’s efficacy for brand discovery has been in question, we see that Facebook, Instagram, Pinterest and the broader web all play critical roles to drive engagement with brand- and user-generated content. We bring these channels together to give marketers a comprehensive view of the performance of their earned media, what value it’s providing, and what they can do to optimize that value and drive sales.
Although advertising has always been measureable to some degree, it’s become less transparent and reliable for engaging consumers and finding new customers. At the same time, as we’ve seen with major CPG companies like Procter and Gamble, the threat of “challenger” brands is real. These brands have very different marketing strategies that are less reliant on traditional advertising.
Challenger brands market faster and more efficiently with significantly lower advertising budgets, and focus more on efficient earned media engagement. These brands are eating into the dominance of traditional CPG giants.
Consumers find and engage brands differently than they did just five years ago. Marketers need to adapt to the new discover-to-buy pathway. The brands we work with know it works best to combine paid, owned and earned platforms, but identifying the right mix is key. Marketers have traditionally underinvested in earned media and overinvested in paid and owned channels. Until now there wasn’t a great way to measure earned media. The most effective strategies incorporate all three in a more balanced approach, to create compelling content that is shared with the right people, in the right place at the right time – amplifying program success.
With Instagram testing a new “regram” or re-sharing feature, the platform is poised to become a more important network for brands to get their content shared, reshared, and engaged with. This will make Instagram a strong contender as a shepherder along the awareness-to-purchase path, in the same league as Pinterest, the current champion of brand discovery.
As has been reported, Pinterest is making big bets that brands will increasingly look to reach consumers focused on navigating and finding content on the visual web. Visual search technology is intuitive to us at ShareIQ, our work is focused on helping marketers understand how people are engaging with brand images on social media and around the web -- taking that insight to help them optimize their content strategy. We officially launched our company in the US in July, and have been rolling out a slate of new products and tools to help enable this. Here’s a bit on the latest.
The brands we work with have seen that digital and social channels such as Pinterest, Facebook and Instagram can play huge roles in connecting brands and consumers, driving awareness of content and helping close the discover to purchase loop. To make this more effective, we launched new audience data tools to help marketers “turn likers into buyers.” This is our intuitive solution to using the visual web and engagement with social media content to help digital marketers close the discover-to-purchase pathway.